Insider Buying: Montrose Environmental Group (NYSE:ONT) Director Purchases 25,140 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:ONT) Director Peter Graham acquired 25,140 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $17.19 per share, with a total value of $432,156.60. Following the transaction, the director owned 256,689 shares in the company, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Peter Graham also recently made the following trade(s):

• On Wednesday, June 3rd, Peter Graham acquired 4,860 shares of Montrose Environmental Group stock. The stock was purchased at an average cost of $15.94 per share, with a total value of $77,468.40.

Montrose Environmental Group Stock Performance

Shares of ONT traded down $0.45 during midday trading on Monday, reaching $16.70. The stock had a trading volume of 765,266 shares, compared to its average volume of 451,770. The firm has a 50 day simple moving average of $19.17 and a 200-day simple moving average of $22.75. Montrose Environmental Group, Inc. has a one year low of $14.13 and a one year high of $32.00. The firm has a market cap of $603.52 million, a PE ratio of 334.07, a P/E/G ratio of 1.28 and a beta of 1.72. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76.

Wall Street Analyst Weigh In

ONT has been the subject of several research analyst reports. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday, May 8th. Barclays reduced their target price on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Finally, Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.67.

Institutional Trading of Montrose Environmental Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. boosted its holdings in Montrose Environmental Group by 3,733.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock valued at $252,000 after purchasing an additional 11,200 shares during the period. Principal Financial Group Inc. boosted its holdings in Montrose Environmental Group by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after purchasing an additional 66,543 shares during the period. Fifth Third Bancorp bought a new stake in Montrose Environmental Group in the 1st quarter valued at about $201,000. Hsbc Holdings PLC boosted its holdings in Montrose Environmental Group by 41.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock valued at $328,000 after purchasing an additional 4,493 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in Montrose Environmental Group by 16.8% in the 1st quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock valued at $1,828,000 after purchasing an additional 12,040 shares during the period. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.